Zeev's Turnips Patch-No Politics (ZEEV)

[Must Be Patient]

fabian,

No question that Buffett is more concerned with value than with timing the overall market, but you seem to be as interested in short-term market movements as CR is. Do you consider FA exclusively?

Looking at overall market price/peak earnings ratios, the market can fall further but is certainly near an extreme. However, the peak earnings corresponded to a peak in corporate earnings and margin relative to GDP; if that very-long-term trend has peaked, the market could be in for more trouble.

Looking at the inflation argument, all the talk seems to be of inflation right now, and yet gold can't re-challenge $1000, let alone break it. This leads me to think there will be another deflation scare. JMHO